Two Chinese robotics startups, both founded just three years ago, have each achieved valuations of approximately $2.9 billion on the same day. The milestone highlights the massive investment surge into China's embodied AI and humanoid robotics industry.
AI² Robotics secured about $736 million in a single funding round on June 29, 2026. X Square Robot, which is backed by Alibaba, reached the same valuation through cumulative funding rounds, including a recent Series B.
Both companies focus on developing humanoid robots designed to operate in physical environments. Their rapid ascent is fueled by strategic national priorities and major corporate backing from tech giants like Alibaba and ByteDance.
The funding is traditional venture capital, with no involvement of digital tokens or blockchain. This rapid growth contrasts with higher market capitalizations seen for leading U.S. firms like Figure AI, illustrating the intensifying global competition in advanced AI and robotics.